NBS Rates Nigeria’s New Unemployment Statistics At 6.4%

Channels Television  
Updated May 14, 2015

NBSThe National Bureau of Statistics (NBS) has put Nigeria’s unemployment statistics at 6.4% of the nation’s over 72 million labour force population, as at the fourth quarter of  2014.

The Bureau’s Head of Real Sector and Household Statistics, Mr Isiaka Olarewaju, revealed that the latest statistics is based on the revised definition and methodology for computing unemployment statistics in Nigeria.

According to Mr Olarewaju, the old method of computation, which placed Nigeria’s unemployment statistics at 24.3% of her total labour force population, is outdated and does not reflect the true situation in the country.